Kolinsky Wealth Management LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kolinsky Wealth Management LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 16.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,244 shares of the electric vehicle producer’s stock after purchasing an additional 180 shares during the period. Kolinsky Wealth Management LLC’s holdings in Tesla were worth $309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wyrmwood Management LLC acquired a new position in Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new stake in Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC raised its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. Kathleen S. Wright Associates Inc. boosted its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Finally, Quattro Financial Advisors LLC acquired a new stake in shares of Tesla during the 4th quarter worth approximately $62,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLA. Robert W. Baird reissued an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Canaccord Genuity Group reduced their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Morgan Stanley dropped their target price on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Finally, China Renaissance assumed coverage on Tesla in a research note on Monday, February 26th. They set a “hold” rating on the stock. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $185.90.

Check Out Our Latest Stock Analysis on Tesla

Tesla Price Performance

NASDAQ TSLA traded down $0.46 during mid-day trading on Friday, hitting $177.48. The stock had a trading volume of 56,244,932 shares, compared to its average volume of 68,096,336. The company has a 50 day simple moving average of $172.18 and a 200 day simple moving average of $197.76. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $566.02 billion, a price-to-earnings ratio of 45.28, a P/E/G ratio of 4.41 and a beta of 2.32. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Equities analysts forecast that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders have sold 198,560 shares of company stock valued at $35,725,248 over the last quarter. Corporate insiders own 25.10% of the company’s stock.

About Tesla

(Free Report)

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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